Trending Now - US Invests $2 Billion in Quantum Firms to Boost Tech Leadership

WHO:

CNN - The US Department of Commerce is awarding funds to American quantum-computing companies.

CNN - IBM is a major beneficiary, receiving half of the awarded funds.

CNN - D-Wave Quantum and Rigetti Computing are among the smaller firms receiving funding.

Fast Company - GlobalFoundries is set to receive $375 million from the grant.

Fast Company - Diraq, a private startup, is expected to receive $38 million.

Fast Company - D-Wave CEO Alan Baratz and Rigetti CEO Subodh Kulkarni commented on the investment.

Fast Company - Secretary of Commerce Howard Lutnick made a statement regarding the investment.

WHAT:

CNN - The US is awarding $2 billion to quantum-computing firms to enhance technological leadership.

CNN - IBM will receive $1 billion to support the research and development of a new company called Anderon.

CNN - The investment aims to bolster the buildout of supercomputers capable of solving complex problems.

Fast Company - The grants will involve the US government taking equity stakes in the companies.

Fast Company - The funds will be disbursed under the CHIPS and Science Act.

Fast Company - Shares of publicly traded companies involved saw significant increases, with IBM up about 6.6% and D-Wave up about 17.5%.

WHERE:

CNN - The new IBM company, Anderon, will be based in Albany, New York.

WHEN:

CNN - IBM estimates that quantum computing will generate up to $850 billion in economic value by 2040.

CNN - McKinsey & Company predicts that four industries could gain up to $1.3 trillion in value by 2035 from quantum computing.

WHY:

CNN - The investment is intended to position the United States as a leader in quantum computing and manufacturing.

Fast Company - The grants are part of a strategy to bolster national security and economic growth through advancements in quantum technology.

HOW:

CNN - The US government will take equity stakes in the quantum computing companies as part of the funding agreement.

Fast Company - The grants are contingent on the companies meeting certain milestones.

(UPDATED May 21, 2026 16:12 UTC)

The US Department of Commerce is awarding $2 billion to quantum-computing firms to enhance the nation's technological leadership, with IBM receiving a significant $1 billion to support the establishment of a new company called Anderon, based in Albany, New York. Other beneficiaries include GlobalFoundries, which will receive $375 million, and private startup Diraq, expected to get $38 million, while smaller firms like D-Wave Quantum and Rigetti Computing are also among the recipients. This investment aims to bolster national security and economic growth through advancements in quantum technology, with the government taking equity stakes in the companies as part of the funding agreement.